Kembara has completed the first close of its fundraising effort, securing €750 million for its deep tech growth fund, known as Kembara Fund I. This fund, managed by Mundi Ventures, is aiming to reach a target of €1 billion.
The fund will focus on investing in European companies that are developing innovative technologies in areas such as clean energy, AI, quantum computing, advanced materials, robotics, and space tech. A significant portion of the fundraising, €350 million, has been committed by the European Investment Fund, as part of the EU’s efforts to strengthen local growth capital. Additional backing for the fund has also been secured from other investors.
The successful first close of Kembara Fund I is expected to have a significant impact on the growth of European deep tech startups, providing them with the necessary capital to develop and scale their technologies. With its target of €1 billion, Kembara is set to become a major player in the European deep tech investment landscape, and its investments are likely to drive innovation and progress in key areas such as clean energy and AI. As the fund continues to move towards its target, it will be interesting to see how it allocates its investments and which startups it chooses to support.
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